If you want to change the pair that’s fine, I only picked GU since a couple of the guys had mentioned it last night.
The “tool” has to be basic-ish, that’s why I marked off S&R lines, but if you’d rather use a different “tool” that’s fine also, just let me know which one. I just figured if you were looking at a chart for the first time it may be the first thing you’d notice how it gets to certain level and turns back.
I think it was rather tongue in cheek by abrsive as you’ll notice in his (apologies abrsive if you’re not a guy) very next post he did say he’s never used stochasctics preferring instead to stick with the time tested flying lamp post bakery across the street being sold off pattern.
A pattern in fact I’m sure was used int he famous Turtle Experiment.
Just thought I would add this since I had the chance:
As I write the time is 12:50 pm GMT18th Feb 2014. (chart posted above in this post has been dropped down to a 4 Hour chart instead of last night’s daily time frame purely to make it easier to see).
Today’s price action in GU rose from the open last night and hit first resistance marked (1-6741) almost to the pip (1-6743) then dropped 90 ish pips to reject from first support marked (1-6667) and bounce back up 30 ish pips.
How long each level will hold on a re-test I reckon is all part of the watch and learn cycle.
Entering the market based on the chart is really difficult for me, I’m always going wrong there…
All my technical strategy do not work. Then I use EA, and its work great in my best broker liteforex. I open NDD account there…
I meant to re-quote this post earlier but what with my kids birthday yesterday i forgot to do it, sorry.
I think this is a very valid point. I watched a youtube video once of the much maligned Greg Secker trading his £2 million acount. It’s called something along the lines of Greg Secker makes 20k in 4 minutes.
Point is though, as the post quoted points out, this guy his a £2 million account, yet goes for only 20 pips on this particular move, that’s all, 20 pips.
But because of this size of his balance nets 20k, a fair days batting if you ask me. So then are traders with smaller accounts guilty of looking for too much?
This may obviously take the discussion off a different tangent, but an important point nevertheless if you ask me.
Sorry ddeen, I’m not too familiar with the use of EA’s.
But your point about not having toomuch success by entering off charts by your own is exactly the whole point of this thread.
In our quest to learn have we forgotten the simple and headed straight for the complicated thinking it MUST be better since it IS more complicated?
Last night’s simple S&R lines, had they been traded as such, could have netted us a handsome pip or two today with absolutely nothing complicated about it, 'cept maybe the nerve/commitment/confidence to trade them in the first place that is.
Why would I want to change anything?
You’re the one who made the statement & who’s now choosing to ignore the suggestion, not me.
You asked for someone to step up & offer a pair & a basic tool.
You got one, now you’re choosing to ignore it in favour of your own choice.
If you had no intention of complying with the request then why bother suggesting it in the first place?
I’m not really understanding what your problem is double 6, did I p*ss you off in a previous life?
Your comments on this thread have been combative from the off, which to be fair to you seems to be the norm on babypips. But you started by suggesting I was someone else, now it appears you’re continuing that them with the ‘guru’ snipe. Really?
I mean, is that sort of immature nonsense your entire contribution to this forum?
What was the suggestion you think I chose to ignore, the stochastic?? You think the stochastic is a “basic” tool do you? more to the point do you think it was even a serious suggestion?
If you have a problem with me then that’s fine, please don’t come back. The air of suspicion on this forum is probably it’s own worse enemy
EDIT: IN fact here is one of your posts from a previous thread:
Ha ha ha, yeah.
What is it with these places that so many people waste so much of their time focusing on irrelevant nonsense instead of spending it learning to interpret the information on a chart competently enough to begin processing acceptable risk & placing bets.
It's the same with the confirmation junkies.
They're always ferreting out more & more layers of confirmation to support a bet & chucking in multiple reasons for this, that or the other. By the time they've run around in circles covering all the bases the value in the bet has evaporated.
No wonder the vast majority fail to make any money.
I just spent possibly the most boring 3 minutes of my entire life sifting through your collection of 46 “contributions” to this forum. Not on one single occasion have you offered anybody anything in the way of credible information that would help or further their education in forex.
it’s just a series of bitter little snipes and garbage. isn’t achievement a wonderful thing in life?
Just as a side question peterma, which admittedly is slightly more advanced than the basic S&R I’m trying to pursue, which significance, if any, do you place on previous session high? (Re: [I]“See how price had already dropped from the AS high”)
[/I]
1.6660 was a big level in my view, where price went from a constant uptrend to a sideways movement for the entire duration of the Asian Session on the 14th Feb 2014. Then the break higher, and now where I am anticipating previous resistance becoming new support.
Because I am a short term trader who does not hold for over 24 hours I’m really only interested in looking for 50 to 60 pips off this move which is not much in the view of a long term swing trader.
SL has now also been moved to BE also, so a nice risk off trade from now on.
Oooh my, that was a tad emotional wasn’t it?
You’re going to need to curb that potentially damaging streak if you’re intending to set a good example to your students. I’d have thought you would have learnt that lesson from your previous existence on here.
It was a brave decision to say buy around 16710 Sl without considering the next S-line was 16660 and the price has moved in a bear trend throughout the day.
Your predictions buy when the price was below 16,710. and there and then there was no strong indication that the price would turn best signal for possible change of direction come 20 mins after your mail
Look at the map … Only after three push sideways movement, I was convinced that the market would take a trip North …
But without SL!! Next S-level was around 16660 , 50 pips ok with micro account or mini account, but very few do it when you trading with standard LOT
Losing 500-1000 $ when there is a high probability that the correction may go further down!!.
ps i got right that Eur/Usd get a break up it was line up in the card .
I’ll tell you what he’s trying to get at, he’s convinced I’m somebody else. My guess is that he thinks I’m trying to sell something here or at least leading up to something of that sort.
But like I say, I’ve nothing to hide, nothing to sell. I’ve already lost a couple of small accounts to forex but I have my own business away from this so forex is nothing more than a hobby, one which I admit I’m not very good at.
However, that said, it would be all too simple to put him on the ignore list but I fear that would only give him some perverse sense of justification so for now, I’ll content myself with hoping he goes away in his own good time, much like a fart.
I just don’t understand why these places seem to be inhabited by people who offer nothing, contribute nothing, add nothing, show nothing, do nothing or say nothing of any value whatsoever.
But let me ask you this, instead of all this fuing about with cryptic little accusations, why not be a man and just fuing say who it is you think I am? And if you’re right, you’ll at least have improved your batting average of 47 posts of complete and utter sh*t to 1 out of 48 posts that was actually worth something?
Ps my post was directed to pipwhip ,because of her low reality understanding …
Nowadays it’s much easier to make a trip to Mount Everest than to become a successful forex trader!
Terrible attitude I would say that my few post provides much more useful information how to succeed as a trader than your inane posts
(have not read all)
Forextrading is the nearest thing to Darwin’s theory in practice.
Serious question then, why do you think so many people come into forex trading with such a poor misunderstanding of what it takes to succeed? What is it about trading that makes so many people think it’s easy?
How would you know what the norm is on Babypips?
You’ve only been here 5 minutes.
Haven’t you?
Perhaps considering your inability to curb your exuberant emotional state it’s probably a blessing this game is merely a hobby, albeit an unsuccessful one…which kind of begs the question what you’re doing orchestrating a thread in the first place.
Anyway, don’t mind me - you carry on doing your guru thing.
But mind the gap!
